# Finance (No. 2) Act 2023, Paragraph 10: Accounting conditions


(1) For the purposes of paragraph 8(2)(b), “the accounting conditions” for an accounting period are—
(a) that consolidated financial statements falling within section 249(1)(a) or (c) have been prepared by the ultimate parent of the group,
(b) that those consolidated financial statements have been externally audited, and
(c) that financial statements have been prepared in accordance with an acceptable accounting standard or an authorised accounting standard in respect of any specified member whose revenue exceeds 50 million euros.
(2) The reference in sub-paragraph (1)(c) to the revenue of a specified member is to its revenue as it would be determined under the country-by-country reporting rules.

---
Source: https://www.legislation.gov.uk/ukpga/2023/30/schedule/16A/paragraph/10 (the official version)
Page: https://openlegislation.uk/finance-no-2-act-2023/schedule-16A/paragraph-10
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.